Autonomous vehicles rolling off the assembly line five to seven years from now, driving Apple to its second trillion.

We expect that Apple Car, which will likely be launched in 2023–2025, will be the next star product. The reasons for this are as follows: (1) Potentially huge replacement demands are emerging in the auto sector because it is being redefined by new technologies. The case is the same as the smartphone sector 10 years ago; (2) Apple’s leading technology advantages (e.g. AR) would redefine cars and differentiate Apple Car from peers’ products; (3) Apple’s service will grow significantly by entering the huge car finance market via Apple Car, and (4) Apple can do a better integration of hardware, software, and service than current competitors in the consumer electronics sector and potential competitors in the auto sector.

My take: Nothing here to disagree with. Nothing much new, either. Ming-Chi Kuo’s reputation is a mystery to me. But I wish he’d add me to his distribution list.